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We wrote a book! It’s coming out soon and it’s ready for pre-order wherever you buy your books (aka Amazon) a.co/d/089ZGOtK
Excited to announce that @JSeyff and I have a new book coming out this fall called "Both Sides of the Coin" which is available for pre-order now. We thought it was time for a fresh look at bitcoin/crypto post-ETF and sought to write a fair and balanced book for everyday TradFi ypto natives that tracks the risks, rewards, evolution and financialization of the asset class as well as the growing debasement/debt problem. We took great pains to cover as much as ground as poss in this 370-page book, no stone was left unturned. Here's a look at the chapters:
1. Bitcoin in a Nutshell (much more of an engineering feat than most ppl think)
2. The Currency Debasement Problem (inflation, debt etc is crucial for anyone hoping to understand the ‘purpose’ of btc as well as the rise of socialist politicians)
3. Store of Value Smackdown (btc vs gold)
4. Bitcoin in a Portfolio (hot sauce, for now)
5. The Filing Heard 'Round the World (the untold inside story of how Blk/Larry Fink evolved enough to file for ETF)
6. The ETF Solution (ETFs have solved for good bitcoin’s ‘intermediary problem’ eg FTX, Coldcard etc)
7. Suitcoiners (wall street/govt adoption, which OGs should embrace not dump on)
8. Alt Coins (top 12-ish cryptos explained in detail as well as how to evaluate them)
9. A Tokenized Future (the blockchain-ization of wall st and beyond)
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Chainlink threw a fantastic event today. Link:NYC was awesome. High quality attendees and had a ton of wonderful conversations. Great work guys. Thanks for having me.
The day has come.
Today, leaders from DTCC, Swift, ICE, Fidelity, BlackRock, Bank of America, and many more take center stage at Link:NYC to discuss how global finance moves onchain.
Watch live: x.com/i/broadcasts/2…
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James Seyffart retweeted
Today, NYSE’s owner moved to bring Hyperliquid perps to the US.
@BBGIntelligence's @JSeyff says even his skeptical colleagues were already quoting Hyperliquid prices.
“When the Strait of Hormuz was closed, when we hit Iran, looking at Hyperliquid oil trading.”
“They’re quoting .”
“I’m like, I thought blockchain had no use cases.”
“People are just coming around to the idea that okay, maybe these things do have value.”
$HYPE
@BBGIntelligence's @JSeyff says even his skeptical colleagues were already quoting Hyperliquid prices.
“When the Strait of Hormuz was closed, when we hit Iran, looking at Hyperliquid oil trading.”
“They’re quoting .”
“I’m like, I thought blockchain had no use cases.”
“People are just coming around to the idea that okay, maybe these things do have value.”
$HYPE
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch.
We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress.
ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid.
Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it.
ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one.
We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them.
To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story.
Anything. Anytime. On ICE[XYZ].
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James Seyffart retweeted
"It's following the similar path to what stablecoins followed a few years ago, right? Even more aggressive."
That's @JSeyff, Senior Research Analyst at @BBGIntelligence, on the Token Terminal chart of tokenized stocks.
Token Terminal data shows the market at $4.63B as of Oct $1B at the start of the year. Stablecoins crossed that same level in March 2020.
That's @JSeyff, Senior Research Analyst at @BBGIntelligence, on the Token Terminal chart of tokenized stocks.
Token Terminal data shows the market at $4.63B as of Oct $1B at the start of the year. Stablecoins crossed that same level in March 2020.
Tokenized stocks deposited into DeFi venues reach $301.7M, up 2,539% over the past year.
Solana becomes the first chain to reach $100M, followed by Robinhood Chain ($70.4M) and Ethereum ($52.6M)
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James Seyffart retweeted
I mean look, AI is hard. I’ve been wrong about many aspects of it and most of the smartest people I follow have been wrong about *something.*
But Ed has been claiming peak AI for more than two years. This is almost literally like covering the Intel IPO in 1971 by bringing on somebody who claimed that Moore’s Law (written in 1965) had peaked in 1966, 1967, 1968, 1969, and 1970. It’s not illegal to do this, but your source is confidently commenting on a phenomenon his previous commentary considered impossible.
But Ed has been claiming peak AI for more than two years. This is almost literally like covering the Intel IPO in 1971 by bringing on somebody who claimed that Moore’s Law (written in 1965) had peaked in 1966, 1967, 1968, 1969, and 1970. It’s not illegal to do this, but your source is confidently commenting on a phenomenon his previous commentary considered impossible.
“Is this just a big circle jerk?” Jon welcomes Ed Zitron (@edzitron), host of the podcast Better Offline, to make sense of the financial house of cards propping up AI and big tech. New pod out now!
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James Seyffart retweeted
I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. As a market participant, I am looking forward to to using their innovative product to enhance my investment process.
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Imagine being so deluded by your prior beliefs that you refuse to admit you may have been wrong on A LOT of your prior claims when the information is smack in front of your face via public SEC filings.
“Is this just a big circle jerk?” Jon welcomes Ed Zitron (@edzitron), host of the podcast Better Offline, to make sense of the financial house of cards propping up AI and big tech. New pod out now!
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Was great to sit down with Chase last week and talk all things Bitcoin ETFs. Got in the weeds on some things after he asked some hyper specific but relevant questions. Thanks for having me on Chase!
Is Wall Street is better at HODLing than you?
James Seyffart (@JSeyff) of Bloomberg Intelligence (@BBGIntelligence) joins me on RE for a candid conversation about:
🔸 Do ETF investors have diamond hands?
🔸 Wall Street's Bitcoin price expectations
🔸 The threat of government imate Trojan horse
A fascinating look behind the scenes at Bitcoin's biggest capital allocators and what the money flows reveal.
🎥 Watch on YouTube: youtu.be/vfXDo326ZZY
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The slope of this tokenized asset growth is not something to be ignored.
Tokenized stocks have reached $4.63B in market cap
Stablecoins crossed that level in March 2020 and have since grown 64x to $297B
Binance bStocks, Ondo & xStocks account for 81.4% of the tokenized stock market today
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NEW: Here's an updated look at Bitcoin's price compared to the average cost basis for US ETF Holders. We estimate the cost bases to be just under $82,000. Bitcoin has been dancing around that level since the end of August.
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The US ETFs still hold about ~1.3 million Bitcoin combined. Here's a view of what that looks like over time. All of these charts and about 15 more are available in our Bitcoin ETF Chart Pack for clients here:
blinks.bloomberg.com/news/stories/T…
blinks.bloomberg.com/news/stories/T…
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James Seyffart retweeted
Got my copy of @EricBalchunas and @JSeyff new book! Excited to read and it will have a spot in the podcast studio bookshelf.
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James Seyffart retweeted
My belief is that everyone should live, save, and invest as if they’ll never see a Social Security check. You can’t control Congress but you can control your savings rate and what you do with it. Worst case: you were overprepared. Best case: it’s extra money you didn’t plan on.
The Social Security Trust Fund is projected to run out of money by 2032. But that doesn't mean you won't get paid.
My latest on whether you can count on Social Security in retirement: ofdollarsanddata.com/can-you-count-…
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James Seyffart retweeted
This graph makes it look like Tesla is committing election fraud.
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James Seyffart retweeted
Happy birthday @EricBalchunas and thanks for celebrating with us in HK! It’s rare to get to do an ETF event and celebrate your bday with the gift being Two Side Of The Coin! @JackiWang17 @JSeyff
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This is the correct take. Took two flights in the last week with @Starlink. It's absolutely elite. I'd genuinely take an economy class ticket with Starlink (window or aisle) over a first or business class ticket without it. Particularly considering the cost difference.
United Airlines CEO in new interview on Delta Airlines choosing not to adopt @Starlink:
"It's a mistake. I think (Starlink) is the biggest competitive advantage of all time. We are going to have a few years of being the only airline that has it at scale."
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